Yen Off Kilter When It Comes to Risk Amid BOJ Ambivalence: Chart

Pimco's Clarida: BOJ May Try to Steepen Yield Curve

Uncertainty over just what the Bank of Japan might pull out of its hat this week is messing with the yen. Regarded as a consummate haven, the currency is trading out of line with the CBOE SPX Volatility Index, a gauge of expected swings in U.S. stocks, for the first time since June, 2015 with economists predicting a wide range of possibilities when it comes to what the BOJ may announce Wednesday. Some investors, including a unit of Bank of New York Mellon Corp., are staying out of the yen trade altogether given the lack of consensus.

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